First Mid Bancshares (FMBH) to Release Quarterly Earnings on Thursday

Key Points

• First Mid Bancshares (NASDAQ:FMBH) is set to release its quarterly earnings report on October 30th, with analysts forecasting earnings of $0.96 per share and revenue of $65.595 million.
• In its previous quarter, the company reported $0.99 EPS and revenue of $88.23 million, exceeding analyst expectations.
• Five analysts currently rate FMBH as a Moderate Buy, with an average price target of $43.33.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) is anticipated to post its results before the market opens on Thursday, October 30th. Analysts expect First Mid Bancshares to post earnings of $0.96 per share and revenue of $65.5950 million for the quarter.

First Mid Bancshares (NASDAQ:FMBH - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. First Mid Bancshares had a net margin of 18.32% and a return on equity of 10.09%. The company had revenue of $88.23 million for the quarter, compared to analysts' expectations of $64.42 million. On average, analysts expect First Mid Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

First Mid Bancshares Price Performance

NASDAQ FMBH opened at $36.84 on Thursday. First Mid Bancshares has a 12 month low of $27.58 and a 12 month high of $43.86. The stock has a market cap of $884.16 million, a price-to-earnings ratio of 10.47 and a beta of 0.89. The company's 50 day moving average is $38.50 and its two-hundred day moving average is $37.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.39.

Insider Transactions at First Mid Bancshares

In related news, CEO Clay M. Dean sold 1,553 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $37.64, for a total value of $58,454.92. Following the completion of the transaction, the chief executive officer directly owned 11,229 shares of the company's stock, valued at approximately $422,659.56. This trade represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of First Mid Bancshares by 32.0% in the second quarter. Federated Hermes Inc. now owns 1,710 shares of the bank's stock valued at $64,000 after purchasing an additional 415 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of First Mid Bancshares by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,566 shares of the bank's stock valued at $473,000 after purchasing an additional 550 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of First Mid Bancshares by 9.4% in the second quarter. Prudential Financial Inc. now owns 11,317 shares of the bank's stock valued at $424,000 after purchasing an additional 970 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of First Mid Bancshares by 7.6% in the second quarter. First Trust Advisors LP now owns 15,765 shares of the bank's stock valued at $591,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of First Mid Bancshares in the first quarter valued at $42,000. 47.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of First Mid Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. DA Davidson raised their target price on shares of First Mid Bancshares from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Piper Sandler increased their price objective on shares of First Mid Bancshares from $47.00 to $49.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of First Mid Bancshares in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.33.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.

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